PIMCO Goes Full Goldbug

May 25, 2016
1256

Devaluing Dollar And Debt By Revaluing Gold Is Getting Respectable…

May’s market letter by Doug Pollitt of Pollitt & Co. in Toronto reflects on the growing respectability of devaluing the U.S. dollar and debt by the upward revaluation of gold. Devaluation of the dollar against gold in 1934 was, Pollitt writes, the most successful provision of President Franklin D. Roosevelt’s New Deal. Pollitt’s letter is headlined “Pimco Goes Full Goldbug” and he has kindly given GATA permission to share it with you in PDF format here:

Mr. Powell has been managing editor of the Journal Inquirer, a daily newspaper in Manchester, Connecticut, since 1974. He serves as the secretary/treasurer and a director of the Gold Anti-Trust Action Committee (GATA). Mr. Powell publishes GATA “dispatches” on stories relevant to the precious metals community: click here to access them and the GATA website. For additional information about precious metals, financial markets and the economy a 2 week free trial to GATA chairman Bill Murphy’s subscription service is available by clicking here. This article is reprinted on The News Doctors with permission.

The Analysis And Discussion Provided On Silverdoctors Is For Your Education And Entertainment Only, It Is Not Recommended For Trading Purposes. The Doc Is Not An Investment Adviser And Information Obtained Here Should Not Be Taken For Professional Investment Advice. The Commentary On Silverdoctors Reflects The Opinions Of The Doc And Other Contributing Authors. Your Own Due Diligence Is Recommended Before Buying Or Selling Any Investments, Securities, Or Precious Metals. We Do Not Share In Your Profits, And Thus Will Not Take Responsibility For Your Losses As Well.